NorthCrest Asset Manangement LLC Makes New $652,000 Investment in Insmed, Inc. $INSM

NorthCrest Asset Manangement LLC acquired a new stake in Insmed, Inc. (NASDAQ:INSM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,710 shares of the biopharmaceutical company’s stock, valued at approximately $652,000.

A number of other hedge funds have also recently modified their holdings of INSM. Private Advisor Group LLC boosted its holdings in Insmed by 1.8% in the first quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock valued at $777,000 after acquiring an additional 82 shares in the last quarter. Glenmede Trust Co. NA increased its position in Insmed by 5.4% during the 1st quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company’s stock valued at $313,000 after purchasing an additional 98 shares during the period. Values First Advisors Inc. increased its position in Insmed by 7.1% during the 1st quarter. Values First Advisors Inc. now owns 2,203 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 146 shares during the period. Reflection Asset Management bought a new position in Insmed in the 4th quarter worth $30,000. Finally, American Trust raised its holdings in Insmed by 12.9% in the 1st quarter. American Trust now owns 1,710 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 196 shares in the last quarter.

Insider Activity at Insmed

In related news, Director David R. Brennan sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the transaction, the director directly owned 39,238 shares in the company, valued at $4,865,512. The trade was a 38.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Adsett sold 239,850 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the completion of the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at $13,159,612.88. This trade represents a 70.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is owned by company insiders.

Insmed Stock Down 3.0%

Shares of NASDAQ INSM traded down $2.94 on Friday, reaching $96.27. 2,396,052 shares of the company’s stock traded hands, compared to its average volume of 2,873,486. The business’s 50 day simple moving average is $118.77 and its two-hundred day simple moving average is $118.27. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The company has a market cap of $21.02 billion, a price-to-earnings ratio of -23.42 and a beta of 0.83. The company has a quick ratio of 3.40, a current ratio of 3.72 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%. The firm had revenue of $425.49 million for the quarter, compared to analysts’ expectations of $395.50 million. During the same period in the previous year, the firm posted ($1.70) EPS. The business’s revenue for the quarter was up 296.1% compared to the same quarter last year. As a group, equities research analysts forecast that Insmed, Inc. will post -1.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INSM shares. Roth Capital reaffirmed a “buy” rating and issued a $198.00 target price (down from $212.00) on shares of Insmed in a research report on Tuesday, September 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $235.00 price target on shares of Insmed in a research report on Tuesday, July 28th. Truist Financial reiterated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Insmed in a research report on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and issued a $218.00 price target on shares of Insmed in a research note on Friday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $220.00 price objective on shares of Insmed in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.30.

Insmed Profile

Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for patients with serious and rare diseases. The company’s research and development activities center on pulmonary and inflammatory conditions, with an emphasis on diseases that have limited treatment options.

Insmed’s principal commercial product is ARIKAYCE liposomal, an inhaled formulation of amikacin used with a combination antibacterial regimen to treat refractory Mycobacterium avium complex lung disease in certain adult patients.